FPT once had a lot of breakthrough technological and business ideas, such as Tri Tue Viet Nam similar to Facebook and WeTalk similar to Wechat.

HCMC residents can now search for information on housing projects before making a purchase, through a mobile app called SXD247, developed by the Department of Construction and FPT Information System Company (FPT IS).

With the global digital wave hitting Vietnam, the country has been actively renovating itself into an attractive destination for new-age investors.

IT giant FPT Corporation reported revenue and pre-tax profit of VND17 trillion (US$726 million) and nearly VND3 trillion in the first eight months of this year, up 21 per cent and 28 per cent, respectively.

The Vietnam Association of Financial Investors (VAFI) has requested the PM and relevant authorities' approval to build deepwater ports from the proceeds of divesting state ownership in large corporations like Vinamilk, Sabeco, and FPT.

Businesses understand that digitalization is a must in the digital technology era. However, for many reasons, the modernization of financial information remains unsuccessful in the country.

“After 30 years of doing outsourcing, Vietnam now has basic conditions to shift to R&D and create technology products,” said PM Nguyen Xuan Phuc at Make in Vietnam, a national technology firm development forum held in Hanoi some days ago.

Citing information that the productivity of a Singaporean worker is 14 times higher than one Vietnamese, Hoang Nam Tien, president of FPT Software, explained why Vietnam is still poor.

“FPT cannot manufacture cars, which requires precision mechanics, but it can turn cars into self-propelled vehicles,” FPT Software chair Hoang Nam Tien has said.

FPT Software on April 11 announced its cooperation with Yamaha to test self-driving electric automobiles in Ecopark Urban Area in northern Vietnam.

 VNG, the Vietnamese technology firm specializing in digital content, online entertainment, social working and e-commerce, now has a valuation of $2.77 billion.

The high growth rate of software outsourcing and the lack of a labor force in the industry have triggered a vigorous human resources competition among software firms.

Vietnamese bankers have all announced that they will digitalize banking transactions, but only a few banks have kicked off the process.

VietNamNet Bridge - To maintain high growth after the domestic market becomes saturated, large corporations are eyeing foreign markets. 

VietNamNet Bridge - In late August, Vingroup announced a plan to develop into a technology conglomerate, officially setting foot in the software industry.

Japan is known as a difficult-to-be-please market, but Vietnam’s IT firms meet Japanese standards thanks to their qualified engineers.

VietNamNet Bridge - The battle among IT firms to scramble for engineers has become so fierce that analysts warn it may cause chaos in the IT labor market.

VietNamNet Bridge - A manpower shortage is affecting the development of the IT (information technology) industry. 

Banks cut short-term interest amid good liquidity, TPBank earns US$97mn by issuing private shares, DATC targets highest debt settlement since 2015, FPT, Điện Quang to develop smart electrical equipment     

VietNamNet Bridge - Not only companies or large corporations will use AI, but small shops, households, supermarkets and buildings will also become clients of the technology.